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https://hdl.handle.net/20.500.14279/9299
Τίτλος: | Default risk drivers in shipping bank loans | Συγγραφείς: | Kavussanos, Manolis G. Tsouknidis, Dimitris |
metadata.dc.contributor.other: | Τσουκνιδής, Δημήτρης | Major Field of Science: | Social Sciences | Field Category: | Economics and Business | Λέξεις-κλειδιά: | Bank loans;Credit scoring models;Default risk;Shipping | Ημερομηνία Έκδοσης: | 1-Οκτ-2016 | Πηγή: | Transportation Research Part E: Logistics and Transportation Review, 2016, vol. 94, pp. 71-94 | Volume: | 94 | Start page: | 71 | End page: | 94 | Περιοδικό: | Transportation Research Part E: Logistics and Transportation Review | Περίληψη: | This paper proposes a credit scoring model for the empirical assessment of default risk drivers of shipping bank loans. A unique dataset, consisting of the credit portfolio of a ship-lending bank is used to estimate a logit model with two-way clustered adjusted standard errors, ensuring robust inferences. Industry specific variables, captured through current and expected conditions in the extremely volatile global shipping freight markets, the risk appetite of borrowers–the shipowners – expressed through the chartering policy they follow – and a pricing variable, are shown for the first time to be the important factors explaining default probabilities of bank loans. | URI: | https://hdl.handle.net/20.500.14279/9299 | ISSN: | 13665545 | DOI: | 10.1016/j.tre.2016.07.008 | Rights: | © Elsevier | Type: | Article | Affiliation: | Athens University of Economics and Business Cyprus University of Technology |
Εμφανίζεται στις συλλογές: | Άρθρα/Articles |
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